WWE Shareholder Files Class Action Lawsuit Against Vince McMahon

WWE shareholder Scott Fellows has filed a class action lawsuit against new WWE Chairman Vince McMahon.

The lawsuit, which will likely lead to several copycat lawsuits as we’ve seen in the past, was filed in Delaware’s Chancery Court on Tuesday evening. Fellows is claiming breach of fiduciary duty, and is looking for invalidation of the company bylaw changes that McMahon made last week following his return to the Board of Directors, in addition to related fees and costs.

Fellows has accused McMahon of using his 81% voting control to remove the three Board members, and replacing them with his hand-picked people, George Barrios and Michelle Wilson, and pushing through the company bylaw changes, including the changes that give McMahon the final word on any company sale or media rights deals.

The filing notes that the potential class size is thousands of WWE shareholders. It accuses McMahon of violating Delaware law by taking control over any major WWE corporate decisions, and “adding his cronies to the Board.”

You can see the full filing at this link.

Stay tuned to WrestlingHeadlines.com for more. Below are links to some of our recent reports on the ongoing situation:

FULL COVERAGE OF THE VINCE MCMAHON – JOHN LAURINAITIS ALLEGATIONS AND FALLOUT:

– WWE Shareholder Files Class Action Lawsuit Against Vince McMahon

– Stephanie McMahon WWE Status Update, WWE Talents to Push Back Against a Sale to Saudi Arabia?, More Backstage Notes

– Update on the WWE Sale – Saudi Arabia PIF Rumors from Tuesday Night

– Major Rumors on a WWE Sale Making the Rounds

– WWE Names Vince McMahon as Chairman Once Again; Comments from Vince, Nick Khan, Stephanie McMahon

– Stephanie McMahon Announces WWE Resignation

– JP Morgan Gets Hired By WWE To Assist With Potential Sale

– Full Transcript from Today’s WWE Meeting Led By Stephanie McMahon, Nick Khan and Frank Riddick

– Backstage News from WWE Meeting, WWE Going Private Again?, Vince McMahon Notes, More

– Interesting Note on WWE Board Member Who Just Resigned, People In WWE Looking to Leave Over Vince McMahon?, More

– Triple H, Nick Khan and Stephanie McMahon Issue Statement on Vince McMahon’s Return to WWE Board, Two Members Resign

– WWE Holding Important Meeting Today, Wall Street Reacts to Vince McMahon’s Return to The Board

– Vince McMahon Officially Returns to WWE Board of Directors with Former Presidents, Three Members Removed

– Wall Street Reacts to Potential WWE Sale and Return of Vince McMahon

– Backstage Reactions to Vince McMahon Confirming His Plans for a WWE Return

– Vince McMahon Issues Statement and Details on Plans for WWE Return

– Vince McMahon Reportedly Planning WWE Return for a Major Sale

– Vince McMahon Reportedly Planning a WWE Comeback, Vince Facing New Demands from Women Alleging Abuse, New Details on Allegations, More

– Vince McMahon Scandal Hurt WWE’s Ability to Sell Sponsorships

– Backstage Talk on Vince McMahon’s Post-WWE Life

– WWE Special Committee Investigation Wraps, WWE Remains Worried Vince McMahon’s Departure May Hurt Them Creatively, Backstage Talk on Vince’s Future, More

– WWE Says Vince McMahon’s Departure May Hurt the Company Creatively and Financially

– WWE Reveals $5 Million More In Payments Made By Vince McMahon

– Backstage Updates on WWE and John Laurinaitis, WWE’s Board of Directors Investigation

– Linda McMahon Comments on Vince McMahon’s WWE Retirement After Being Pressed By Reporter

– Vince McMahon WWE Stock Update, Vince’s WWE Ownership, Linda McMahon Note

– Wrestlers Interested In Working for WWE Again, Backstage Talk on Triple H and Stephanie McMahon, More

– New Interesting Backstage Talk on How Vince McMahon Was During Creative Meetings and Live TV Production

– USA Network Looks Ahead to Big WWE Changes, USA on Fan Reactions to Triple H Taking Over Creative

– Top WWE Stars Jab at Vince McMahon’s Retirement on RAW

– What Triple H Promised to WWE Talents In Pre-RAW Backstage Meeting, More Backstage Notes

– Vince McMahon Reportedly Being Investigated By the Federal Government, Retirement Impacted By Investigations

– Vince McMahon Facing Additional Investigations?, More on Vince’s Exit from WWE

– Backstage News on Vince McMahon’s Transition to Retirement, USA’s Response to WWE Creative Change, More

– WWE Restates Financial Statements Due to Unrecorded Vince McMahon Expenses, Vince to Pay Money Back

– Triple H Named Head of WWE Creative, WWE Officially Names Stephanie McMahon and Nick Khan as Co-CEOs, Preliminary Q2 Earnings

– Backstage News on Brock Lesnar Working WWE SmackDown After Walking Out Earlier

– Stephanie McMahon and WWE Fans Send “Thank You” Message to Vince McMahon

– Read Vince McMahon’s Full Retirement Letter Sent to WWE Employees

– Brock Lesnar Officially Pulled from WWE SmackDown

– WWE SmackDown Backstage Mood, Rumor on Another Departure, Meeting Held After Vince McMahon’s Retirement Announcement, More

– Tony Khan Jokingly Reacts To Vince McMahon’s Retirement: “I’m Grateful To Now Be The Longest-Tenured CEO In Pro Wrestling”

– WWE to Replace Brock Lesnar at SummerSlam?, More on Lesnar’s Reaction to Vince McMahon’s Retirement

– Backstage News on Vince McMahon’s Retirement, Stephanie McMahon and Nick Khan’s New WWE Roles, More

– Brock Lesnar Reportedly Leaves SmackDown, Upset Over Vince McMahon’s WWE Retirement

– Vince McMahon Retires from WWE

– Triple H at WWE SmackDown, Backstage Talk on Triple H’s New Role, Bruce Prichard Update, More

– WWE Announces Triple H’s New Executive Role, Triple H Comments

– More Vince McMahon Allegations To Be Revealed?, Possible Reasons Mainstream Media Didn’t Give Significant Attention to Recent WSJ Report–

– Netflix Reportedly Pulls Vince McMahon Project, Millions of Dollars Spent

– Backstage Reactions to Vince McMahon Allegations, What Vince Allegedly Shouted After WWE TV Appearance, More

– WWE Issues Internal Statement on Latest Vince McMahon Allegations

– Vince McMahon Reportedly Paid Millions of Dollars In “Hush Money” to Former Wrestler and Others

– News on Who Made the Decision to Name Stephanie McMahon as WWE’s Interim CEO & Chairwoman

– Stephanie McMahon Addresses Investigation Into Her Father During WWE HQ Meeting

– How Much Value WWE Has Lost Since Vince McMahon Scandal Broke, WWE Ratings Up Due to Buzz?

– WWE Now Facing Multiple Potential Class Action Lawsuits

– Bruce Prichard Gets More WWE Power, John Laurinaitis Update, Backstage Concern Over Latest Major Move

– Vince McMahon Makes Surprise WWE RAW Appearance to Hype Big Return

– More Details On Vince McMahon’s Mood, Backstage Atmosphere At Friday’s WWE SmackDown

– Vince McMahon Opens Tonight’s WWE SmackDown, Video of the Segment

– “Weird” Atmosphere at WWE SmackDown, Vince McMahon and John Laurinaitis Updates, Stephanie McMahon Talk, More

– Backstage Update on Vince McMahon’s SmackDown Appearance, Internal WWE Reactions to Today’s Announcement, More

– Stephanie McMahon Sends Message to WWE Staff After Today’s Huge Announcement

– Vince McMahon Announced for WWE SmackDown

– Stephanie McMahon Named Interim CEO of WWE, Vince McMahon Issues Statement on Stepping Away During Investigation

– Pat McAfee Reacts to Vince McMahon Allegations, Thinks We Will Never Get the Truth

– WWE Statement to Employees on Vince McMahon and John Laurinaitis Investigation, Backstage News and Talk on Vince’s Future, More

– Anonymous E-mails Lead to Investigation Into Vince McMahon and John Laurinaitis Over Relationships with Ex-WWE Female Employees, WWE Issues Statement

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